Breakout stocks today
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Investors particularly retail investors always look for stocks that given a breakout and may move up from this breakout. But, often the breakout did not sustain and the stock price falls back. Hence, it is important to understand the fundamental analysis as well as the technical analysis to maximize your benefits.
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Fundamental analysis gives the required safety net. In case the breakout proves to be a false breakout, still retail investors will not loose their capital. In this article I will keep sharing breakout stocks whenever I found one.
Breakout Stocks
Breakout stocks are not recommendation to invest directly, neither these stocks are for intraday trading. These stocks are for momentum investing. I used to keep my stocks and their analysis here as a momentum investor. And, I thought to make it public. These suggestions help you to get stock ideas for further analysis.
As a disclaimer, I am not a SEBI registered Research analyst. Please do your own due diligence before investing in any stock.
I also keep 52 week high breakout stocks in a separate article for your reference and further analysis.
To identify breakout stocks, I work on both fundamental and technical analysis. As a fundamental analyst, I prefer those companies with the below indicators must be satisfied.
- ROCE > 15%
- Yearly PE < EPS
- Debt to Equity ratio < 1
- This yearly gross sales > Last year gross sales
- Yearly PE ratio < Quarterly EPS after extraordinary items diluted
- Yearly Return on Net worth percentage > 20%
For technical analysis, I look for the charts to give a breakout based on different chart patterns.
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Breakout Stocks Today
Here is the list of the breakout stocks to buy today or may be at correction. Most often, I noticed that, once a stock gives breakout with strong volume, it retrace to test the support (the breakout resistance become support for this). Once the stock start upward journey after taking support from the previous resistance level, I used to invest for minimum 20% profit.
Below is the list of the stocks. I will keep on updating this page very frequently. Keep an eye on this page or subscribe this page. Please share your comments on this to help me to learn more from your knowledge as well.
Best Breakout Stocks 2024
Usually these stocks for momentum investing and may be breakout stocks for next week. I consider these stock as breakout stocks for next week and deal accordingly.
| Breakout Stocks | Breakout level | Date of Breakout | Report Date |
|---|---|---|---|
| Gujarat Gas Ltd (GUJGASLTD) | 628 | 28-06-2024 | 30-06-2024 |
| Gravita India | 1140 | 11-06-2024 | 11-06-2024 |
| PGEL (PG Electroplast Limited) | 2563 | 29-05-2024 | 29-05-2024 |
| ELECON | 1162 | 27-05-2024 | 27-05-2024 |
| D-link (india) Limited | 421 | 17-05-2024 | 17-05-2024 |
| Ahluwalia Contracts (India) Ltd. | 1213 | 17-05-2024 | 17-05-2024 |
| Pricol Ltd. | 451.7 | 17-05-2024 | 17-05-2024 |
| Jash Engineering Ltd | 2310 | 17-05-2024 | 17-05-2024 |
| Aditya Birla Sun Life Amc (ABSLAMC) | 546 | 08-05-2024 | 08-05-2024 |
| MAITHANALL (MAITHAN ALLOYS) | 1270 – 1280 | 02-05-2024 | 02-05-2024 |
| HDFC AMC | 3888 | 30-04-2024 | 30-04-2024 |
| UTI AMC | 956 | 30-04-2024 | 30-04-2024 |
| Gandhitube (Gandhi Special Tubes) | 860 | 29-04-2024 | 29-04-2024 |
| STYRENIX | 1644 | 25-04-2024 | 26-04-2024 |
| Amara Raja Energy & Mobility Ltd (ARE&M) | 1123 | 25-04-2024 | 25-04-2024 |
| BANCOINDIA | 644 | 25-04-2024 | 25-04-2024 |
| SRF | 2619 | 24-04-2024 | 25-04-2024 |
| Raneholdings | 1281 | 24-04-2024 | 25-04-2024 |
| MMFL (MM forging) | 1058 | 19-04-2024 | 20-04-2024 |
| CAMS | 3201.7 | 18-04-2024 | 18-04-2024 |
| Wabag (Va Tech Wabag) | 820 | 16-04-2024 | 17-04-2024 |
| HG Infra | 1032 | 02-04-2024 | 17-04-2024 |
| Lg Balakrishnan & Bros Limited | 1280 | 16-04-2024 | 17-04-2024 |
| Epigral Ltd | 1285 | 16-04-2024 | 17-04-2024 |
| N R Agarwal Industries Ltd | 487 | 16-04-2024 | 17-04-2024 |
Charts of Breakout stocks for next week
Breakout stock patterns
MMFL (MM forging Limited) is a leading die forging company in India. The company placed itself as a one stop shop for the closed die forgings needs of both domestic and international customers. The company is fundamentally good. MMFL share price has given breakout of a channel on weekly chart. Keep an eye to invest at right time.
HG Infra has given a breakout on 2nd April 2024 and consolidate for couple of weeks. Now the stock is ready to move up again. Look at the below beautiful chart. The chart is taken from Zerodha platform.
Also Read
Disclaimer: I am not a SEBI registered Research Analyst. The names of the momentum stocks I am putting here are not recommendations. I am putting the names of the stocks with the analysis for my own record and further analysis. This may help you to get an idea but before investing in any of these momentum stocks you should do research of your own or take the help of a financial advisor or SEBI Registered Investment advisor.
Frequently Asked Questions
Breakout stocks Meaning
The stocks which has given a technical breakout are good to buy to short term benefit. However, you must identify stocks with strong fundamentals with technical breakout to maximize profit with minimum risk.
How to Identify Break out stocks?
Break out stocks can be identified using technical charts. There are many chart patterns that help us to identify break out stocks.
What is breakout stock patterns?
We are using different chart patterns to identify breakout stocks to invest. For example channel breakouts, etc. Here are few examples to consider.
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